Driven by higher crude oil prices and a more robust crack spread, European naphtha cargo range made gains on Tuesday morning of US$27/ton, as per ICIS, assessed at US$1014–1,022/ton CIF (cost, insurance and freight) NWE. In the previous afternoon, the naphtha range was assessed at US$987–995/ton CIF NWE, with July Brent at US$112.54/bbl and the June crack spread at minus US$2.55/bbl.
11-May-11 
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